Ximen Starts Field Program Nelson Gold Camp

Rhea-AI Summary

Ximen Mining Corp (OTCQB:XXMMF) has commenced its 2022 exploration program focused on the Nelson property in southeastern BC, covering approximately 21,300 hectares. Initial activities include sampling at the Wilcox mine dump and tailings, which revealed a gold-bearing tailings deposit with an average grade of 2.39 grams per tonne. The program builds on 2021 efforts, with upcoming drilling at the California gold mine. Soil sampling indicates elevated gold, silver, and copper values, notably near the Kenville mine. Historical records require further verification.

Positive

• Ximen controls approximately 21,300 hectares of mineral properties, enhancing exploration potential.
• Initial Wilcox tailings sampling shows an average gold grade of 2.39 grams per tonne, indicating valuable deposits.
• Soil sampling results display elevated levels of gold, silver, and copper, suggesting new exploration opportunities.

Negative

• None.

Nelson BC

VANCOUVER, BC / ACCESSWIRE / May 27, 2022 / Ximen Mining Corp. (TSX.V:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") announces that has kicked off its 2022 exploration programs starting with the Nelson property in southeastern BC.

Ximen now controls approximately 21,300 hectares of mineral properties near Nelson, BC, covering 57 mineral occurrences including the Kenville gold mine. The 2022 field program commenced this week. Initial work will include sampling of the Wilcox mine dump, thickness measurements of the Wilcox tailings, collection of a bulk tailings sample of tailings for metallurgical testing, and determination of the bulk density of tailings. Soil sampling will resume where the 2021 program stopped once the snowpack has melted. Drilling is planned for the California gold mine later in the season.

Sampling at Wilcox Mine Area

The 2022 program will follow on from work done last year. In 2021, geochemical sampling was conducted at the Wilcox tailings, rock sampling was done at the Protection mine dump, and soil sampling was done south of the Kenville mine. Work also included and construction of exploration trailer camp and facilities.

The Wilcox tailings sampling program (128 samples) outlined a gold bearing tailings deposit extending approximately 500 metres in length and 100 metres wide and covering an estimated area of 67,000 square meters that extends from an historic mill site (figure below). The arithmetic average gold grade is 2.39 grams per tonne Au.

Rock sampling of the Protection dump consisted of 39 composite samples collected on a 10 x 10 meter grid (see figure below). Average grades of the samples are 9.5 grams per tonne gold, 47.5 grams per tonne silver, 1.13% lead, 1.37% zinc. The mine dump has an area of roughly 2,717 square metres.

Wilcox Tailings Gold PPM

Aerial view of Protection dump.

Protection Mine Dump

Soil sampling was done on a grid extending south from the Kenville mine. Results included elevated results for gold (values ranged up to 0.487 ppm Au), silver (values ranged up to 7.97 ppm Ag), and copper (values ranged up to 2590 ppm Cu). Anomalies for gold occur near the Kenville property boundary and around the Jackpot occurrence property (see figure below). Silver values were elevated mostly in the southeast and east of the sample grid, forming three northwest trending anomalies (400 meters long by 200 meters wide each); Copper values show an anomaly (400 x 400 meters) in the south-central part of the sampling grid, in between the Mor 1, Eureka and Central occurrences.

Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.

Map of 2021 Nelson soil grid results for gold (ppm).

Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,

Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.

On behalf of the Board of Directors,

"Christopher R. Anderson"

Christopher R. Anderson,
President, CEO and Director
604 488-3900

Investor Relations:
Sophy Cesar
604-488-3900
ir@XimenMiningCorp.com

About Ximen Mining Corp.

Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen`s two Gold projects, The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under an option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.

Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XMA and WKN with the number as A2JBKL.

This press release contains certain "forward-looking statements" within the meaning of Canadian securities This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Ximen Mining Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900

SOURCE: Ximen Mining Corp

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FAQ

What is the focus of Ximen Mining Corp's 2022 exploration program?

The 2022 exploration program focuses on the Nelson property in southeastern BC, including activities like sampling and drilling.

What significant findings were reported from the Wilcox tailings sampling?

The Wilcox tailings sampling yielded an average gold grade of 2.39 grams per tonne, indicating a substantial gold-bearing deposit.

What were the results of the soil sampling conducted near the Kenville mine?

Soil sampling near the Kenville mine showed elevated gold values up to 0.487 ppm, along with silver and copper anomalies.

What is the significance of Ximen Mining's land control in relation to the mineral properties?

Ximen Mining's control over 21,300 hectares of mineral properties enhances its position for exploration and potential resource development opportunities.

When did Ximen Mining Corp commence its 2022 exploration activities?

Ximen Mining Corp commenced its 2022 exploration activities in late May 2022.